Looking to diversify beyond BBNIX? The mutual funds below have historically moved differently from BBNIX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for BBNIX
2 mutual funds have low correlation with BBNIX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.10, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.10 | 0.05 | 0.07 | 80 | Semiconductors, Technology Equities | BBNIX vs FSELX | |
| Fidelity Select Technology Portfolio | 0.13 | 0.08 | 0.09 | 72 | Technology Equities | BBNIX vs FSPTX | |
| Fidelity 500 Index Fund | 0.32 | 0.20 | 0.15 | 64 | S&P 500 | BBNIX vs FXAIX | |
| Fidelity Capital & Income Fund | 0.33 | 0.34 | 0.34 | 74 | High Yield Bonds | BBNIX vs FAGIX | |
| Fidelity International Value Fund | 0.36 | 0.26 | 0.19 | 77 | Foreign Large Cap Equities | BBNIX vs FIVLX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BBNIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.24, up from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.24 | 0.08 | 0.10 | 60 | Consumer Cyclical |
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